Navigating the salary cap is one of the more important tasks for any GM. Teams that can avoid total cap chaos by walking the tightrope of inking players to deals that match their value (or compensate for future value without breaking the bank) remain successful. Those that don’t see struggles and front office changes.
PHR will look at every NHL team and give a thorough look at their cap situation for the 2023-24 season. This will focus more on players who are regulars on the roster versus those who may find themselves shuttling between the AHL and NHL. All cap figures are courtesy of CapFriendly.
New Jersey Devils
Current Cap Hit: $82,601,228 (under the $83.5MM Upper Limit)
Entry-Level Contracts
F Alexander Holtz (two years, $894K)
D Luke Hughes (two years, $925K)
F Dawson Mercer (one year, $894K)
D Simon Nemec (three years, $918K)
G Akira Schmid (one year, $851K)
Potential Bonuses
Holtz: $850K
Hughes: $925K
Mercer: $400K
Nemec: $3.25MM
Schmid: $57.5K
Total: $5.4825MM
Holtz has progressed to the point of being a regular player but it has been in somewhat of a limited role so far. Basically halfway through his entry-level deal, it seems unlikely that he’ll dramatically improve to the point where he’ll bypass a long-term contract in 2025. A short-term deal in the $2MM range seems likely while bonus-wise, he’ll need to produce a lot more to have a shot at reaching them. The same can’t be said for Mercer who has a couple of strong seasons under his belt although his 2023-24 numbers are certainly down. Nonetheless, GM Tom Fitzgerald may still want to look into a long-term deal that could approach the $6MM mark while a bridge would be a bit more than half of that. Like Holtz, his bonuses are unlikely to be reached at his current pace.
Hughes did well in limited action down the stretch and in the playoffs last year and has locked down a full-time spot this season, playing top-four minutes. He’s expected to be a core piece for years to come so it wouldn’t be surprising to see Fitzgerald try to push for a long-term agreement after 2025. Such a deal could push past the $7MM mark if he produces as expected. As things stand, he has a chance at hitting a handful of his ‘A’ bonuses, worth $212.5K apiece. Nemec, meanwhile, was recently brought up and is just getting his feet wet at the NHL level. He recently went past the nine-game mark, meaning he’ll burn the first year of his deal this season. It’s too early to forecast his next contract but it’s worth noting that he’s unlikely to reach his bonuses.
As for Schmid, he made a big impact down the stretch last year, taking over as the starter. Things haven’t gone anywhere near as well this season as he has struggled considerably. He could still be a goalie of the future for New Jersey but with the inconsistency, he should be heading for a bridge deal that should check in under $2MM. His bonuses are based on games played so it’s likely he’ll hit some of that amount even though he’s currently in the AHL.
Signed Through 2023-24, Non-Entry-Level
F Tyler Toffoli ($4.25MM, UFA)
F Michael McLeod ($1.4MM, RFA)
D Colin Miller ($1.85MM, UFA)
F Tomas Nosek ($1MM, UFA)
D Brendan Smith ($1.1MM, UFA)
F Chris Tierney ($775K, UFA)
Toffoli wasn’t able to reach an early extension in Calgary and was quickly moved to New Jersey despite coming off of a career year. He is producing at a similar rate this season and if he can hold that up, he should be one of the better free agent wingers. Last time in free agency, his market was a bit quieter than expected but he should be able to push past the $5MM mark on a longer-term agreement. McLeod is on pace for his best offensive season and has been elite at the faceoff dot. With arbitration eligibility, he could push for $2.5MM or more should it get to a hearing if he remains one of the top faceoff specialists in the NHL and keeps up this level of production.
Nosek had to wait a bit to get this contract, one that was a $750K dip from his last deal. With this season being injury-plagued so far, he’s going to be hard-pressed to earn a raise even with his track record of being an effective fourth line middleman. Tierney came over in free agency on a two-way deal and has earned a full-time spot on the roster. Even so, he’s likely to remain around the minimum salary moving forward.
Miller had a quiet year in Dallas last season and the change of scenery hasn’t worked out the greatest; he has dealt with an injury and has been healthy scratched at times as well. While he has a bit of offensive upside and is a right-shot defender, it’s possible he’s heading for a small dip in salary. Smith can still hold his own on a third pairing and has shown previously that he can play up front if need be as well. While he’ll be 35 next month, he could still land a contract close to this price tag.
Signed Through 2024-25
D Kevin Bahl ($1.05MM, RFA)
F Nathan Bastian ($1.35MM, UFA)
F Curtis Lazar ($1MM, UFA)
G Vitek Vanecek ($3.4MM, UFA)
Bastian has been a bit quieter offensively this season compared to his last two years but he is holding down a regular spot on the fourth line. He’ll be hard-pressed to get any sort of significant raise unless he can get back to his production since starting his second go-round with the franchise. Lazar is in his first full year with the Devils after being acquired from Vancouver. He’s a serviceable fourth line center and it’s likely his next deal will come in close to this one.
Bahl is in his first full season and is holding down a regular spot on the third pairing. It’s unlikely he’ll move up in the lineup too often but even if he just stays in that role, he should get at least a small bump beyond his $1.2MM qualifying offer.
It has been an interesting first half of Vanecek’s contract in New Jersey. Acquired to take over as the starter in the 2022 offseason, he had the best year of his career, getting into 52 games while posting the lowest GAA of his career (2.45) and the highest save percentage (.911). And yet, when the playoffs came around, he wasn’t the starter and when he got his chance, he struggled mightily. That has carried over to his play this season. Value-wise, Vanecek only needs to be at the level of a good backup to provide value on his deal. He has been well above that at times and well below it at others. He’ll need to show some consistently strong performances in the next year and a half to set himself up for a bigger deal in free agency. If he can, he could push past the $5MM mark.
Signed Through 2025-26
F Erik Haula ($3.15MM, UFA)
Haula fit in quite well as an above-average third center last season, resulting in a reasonably-priced extension back in June. He only has three seasons with more than 40 points under his belt which limited his market in his previous trips through free agency. If he can stay around that mark in each of these three years, he’ll have a lot more bargaining power next time out.